PARIS — A.P.C. and private equity firm L Catterton have named Pierre-Arnaud Grenade president of the French fashion brand, betting on the winning model of growth coupled with CSR transformation that characterized his prior tenure at Ba&sh, WWD has learned exclusively.
L Catterton recruited Grenade as chief executive officer of Ba&sh when it invested in the French contemporary label in 2015. Over the next seven years Ba&sh’s revenues multiplied by seven to reach more than 320 million euros in 2022, when L Catterton sold its majority stake to private equity firm HLD Group.
Now the LVMH Moët Hennessy Louis Vuitton-backed consumer investment giant is bringing back Grenade to inject fresh momentum into A.P.C., following its acquisition last year of a majority stake in the brand founded by Jean Touitou.
“His mission is to expand and advance its creative dynamic, reinforce its financial structure and give it new selective growth opportunities,” A.P.C. said in a statement.
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At the time of the acquisition in March 2023, L Catterton said A.P.C. had revenues of just over 100 million euros. Eduardo Velasco, a partner in L Catterton Europe, told WWD that figure could be five times bigger.
He noted that A.P.C. was a “legitimate lifestyle brand” with close connections to the worlds of art and music and a long history of working in the area of sustainability, a key touch point for consumers today.
Since founding the brand in 1987, Touitou has established a strong cultural presence, forging collaborations with brands including Lacoste, Carhartt, A Bathing Ape and Sacai. But the brand was severely hit by the coronavirus pandemic, and Touitou said he was ready to hand over the reins to a partner with solid financial resources.
“Pierre-Arnaud Grenade is ready to bring new energy to A.P.C.,” the brand said Tuesday.
“Inspired by the elegant and understated aesthetic of Jean and Judith Touitou, and with their support, he is determined to give new momentum to the A.P.C. style, which can be defined by its minimalism, impertinence and deep respect for the environment,” it added.
A.P.C. noted that the 56-year-old executive combines retail expertise with a deft handling of creative teams and the establishment of effective sustainability strategies, in addition to fostering “a management culture based on initiative and autonomy that boosts the attractiveness of the business.”
A veteran of brands including Oxbow, Morgan and Princesse Tam Tam, Grenade is administrator of the French Federation of Women’s Ready-to-Wear and founding partner of Teampact Ventures, an investment fund that invests in mission-driven start-ups, alongside top athletes.
Under his leadership Ba&sh expanded not only in Europe, but also in North America and Asia. Over the course of eight years its network of stores grew from 65 locations in Europe to 320 worldwide, with overseas markets accounting for 65 percent of sales and online taking a 25 percent share, according to Grenade’s biography.
In tandem with the firm’s omnichannel transition, backed by an ecosystem of start-ups, he implemented an ambitious CSR transformation program dubbed Ba&sh Blossom, which allowed the company to achieve B Corp status in June with a 98 percent rating.
“To boost A.P.C.’s creative momentum, drawing on its distinctive style markers (minimalism, impertinence, and respect for the environment), he will soon work on a new generation of products in line with the brand’s aesthetic identity,” the biography stated.
